Mon, Nov 28, 2022

In spite of the turbulent crypto market, the global Forex broker OctaFX recently decided to raise the leverage ratio of its cryptocurrency pairs from 1:10 to 1:25. This generous upgrade is a direct result of clear customer sentiment.

wo vivid and steep bitcoin corrections recently made the whole altcoin market plummet right down with it. Nevertheless, at the beginning of May, the hopes were still high after bitcoin had reached its new all-time high of over 60,000 USD in mid-April 2021.

All parties involved consider the first collapse from mid-May onwards as the harshest market crash since the infamous March 2020 fallout. Although the second correction also claimed many trading casualties, it was the first one that caught almost everybody off-guard. At the time of this writing, bitcoin is hovering around 36,000 USD.

Allegedly, insiders floated around Reddit and several other internet forums days before the crash began, in which they sought to make a credible case for an orchestrated market manipulation soon to shake retail investors and traders out of their positions, active orders, or spot bags. As a result of this disruption, many lost tremendous amounts of money, and the market’s fear index had reached record highs.

Tech-millionaire Elon Musk garners some love and much hate as he tweets along, making the public impression of having complete control over the crypto sphere, as well as bitcoin as its prime currency. Time will tell if this simple explanation amounts to anything. Perhaps, it is instead a collective effort of anonymous whales and institutional players, trying to salvage the best market conditions to position themselves long-term in the new infrastructure of future finance to come.

OctaFX decides to accommodate customer demand

Amid these historical fluctuations in the Bitcoin and altcoin markets, OctaFX decided to accommodate its clients with a leverage update:

The fintech company raised the leverage for all its cryptocurrency pairs from 1:10 to 1:25.

As a friendly reminder, the most-traded cryptocurrencies at OctaFX, ranked by popularity, are:

  • BTCUSD (Bitcoin/U.S. dollar)
  • XRPUSD (Ripple/U.S. dollar)
  • ETHUSD (Ethereum/U.S. dollar)
  • LTCUSD (Litecoin/U.S. dollar)
  • BCHUSD (Bitcoin Cash/U.S. dollar)

OctaFX decided upon meeting this customer demand after carefully analysing the client sentiment and attentively reviewing client communications.

OctaFX is a global Forex broker that provides online trading services worldwide since 2011. It offers a state-of-the-art trading experience to over 7 million trading accounts worldwide. The company is well-known for its prodigious IB program. Regularly engaged in charity activity, the broker takes its social responsibility very seriously. OctaFX has won more than 40 awards since its foundation, including the ‘Best ECN Broker 2020’ award from World Finance and, more recently, the 2021 ‘Decade of Excellence in Forex Asia’ award and the 2020 ‘Most Transparent Broker’ award from Global Banking & Finance Review and Forex Awards, respectively.

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